TMI Blog2012 (6) TMI 296X X X X Extracts X X X X X X X X Extracts X X X X ..... Kumar, DR O R D E R A.N.Pahuja:- This appeal filed on 20.07.2011 by the Revenue against an order dated 16.05.2011 of the ld. CIT(A)-XIX, New Delhi, raises the following grounds:- 1. Whether on the facts and in the circumstances of the case the provisions of section 40(a)(ia) of the Income-tax Act as amended by the Finance Act, 2010, with effect from 01.04.2010 should be treated as retrospectives w.e.f. 01.04.2005. 2. The appellant craves for reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of appeal. 2. Facts, in brief, as per relevant orders are that return declaring income of `₹ 12,75,862/- on a/c of short term capital gains and nil b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that issue is squarely covered by the decision dated 23rd November, 2011 of the Hon ble Calcutta High Court in I.T.A. no.302 of 2011 in CIT Vs. Virgin Creations, followed subsequently by co-ordinate Bench in their decision dated 11.4.2012 in Piyush C. Mehta Vs. ACIT no.1321/Mum./2009 for the AY 2005-06 and the decision dated 10.5.2012 in ITA no. 717/Bang/2011for the AY 2008-09 in ACIT Vs. M.K. Gurumurthy.. 5. We have heard both the parties and gone through the facts of the case. Indisputably, the assessee deposited TDS deducted from an amount of `₹ 16,22,846/- on 11.4.2008 i.e. before the due date of filing of return. The issue before us in this case is as to whether amendment made to the provisions of section 40a(ia) of the Act by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ively w.e.f 1.4.2005.. 5.1 In view of the foregoing, following the view taken in the aforesaid decision of the Hon ble Calcutta High Court in Virgin Creations(supra) , we are of the opinion that the amendment to the provisions of Sec.40(a)(ia) of the Act, by the Finance Act, 2010 is applicable retrospectively from 1.4.2005. Consequently, any payment of tax deducted at source on or before the due date for filing return of income u/s.139(1) of the Act, can not be disallowed in terms of provisions of sec.40a(ia) of the Act. Indisputably, in the instant case the assessee deposited the tax deducted at source on11.4.2008 i.e. before the due date for filing return of income u/s.139(1) of the Act . In this situation, especially when the Revenue h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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